Daily: ER/PR gap-up
Intraday: Flag b/d
Gain: $224 (2.8%)
Shares: 1,400
Stop: $5.74
Took short position when stock was flagging near LOD. Scaled out on first spike and when it made new LOD. Sold last shares before market closed.
Execution detail:
I was watching it throughout the day and didn't see any entry in the morning. It started to roll over in the afternoon and the MAs were down-trending. When it broke a bear flag I took the short position.
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Can i ask you a question? On a gap up, how come you were looking for a short? What are you looking for in these situations? I did the same on SCTY. It gapped up but i went long yet everyone went short (and they were right to).